Wall Street analysts predict that MarketAxess Holdings, Inc. (NASDAQ:MKTX) will report sales of $99.00 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for MarketAxess’ earnings, with the highest sales estimate coming in at $102.80 million and the lowest estimate coming in at $95.20 million. MarketAxess reported sales of $94.44 million in the same quarter last year, which indicates a positive year-over-year growth rate of 4.8%. The business is scheduled to announce its next quarterly earnings results on Wednesday, January 24th.
According to Zacks, analysts expect that MarketAxess will report full year sales of $99.00 million for the current year, with estimates ranging from $393.20 million to $400.70 million. For the next fiscal year, analysts expect that the firm will post sales of $463.65 million per share, with estimates ranging from $461.00 million to $466.30 million. Zacks’ sales averages are an average based on a survey of research firms that that provide coverage for MarketAxess.
MarketAxess (NASDAQ:MKTX) last released its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.90 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.90. The business had revenue of $96.70 million during the quarter, compared to analyst estimates of $96.35 million. MarketAxess had a net margin of 37.67% and a return on equity of 30.12%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.82 earnings per share.
In other MarketAxess news, Director Stephen P. Casper sold 2,000 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $195.84, for a total value of $391,680.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kevin M. Mcpherson sold 5,000 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $176.61, for a total value of $883,050.00. The disclosure for this sale can be found here. Insiders sold a total of 50,225 shares of company stock worth $8,955,630 in the last three months. 4.02% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in MKTX. Janus Henderson Group PLC lifted its holdings in MarketAxess by 178.5% in the 2nd quarter. Janus Henderson Group PLC now owns 807,088 shares of the financial services provider’s stock valued at $162,306,000 after purchasing an additional 517,309 shares in the last quarter. Allianz Asset Management GmbH lifted its holdings in MarketAxess by 503.9% in the 3rd quarter. Allianz Asset Management GmbH now owns 192,657 shares of the financial services provider’s stock valued at $35,547,000 after purchasing an additional 160,755 shares in the last quarter. Eagle Asset Management Inc. purchased a new position in MarketAxess in the 2nd quarter valued at $32,252,000. Baillie Gifford & Co. lifted its holdings in MarketAxess by 5.1% in the 2nd quarter. Baillie Gifford & Co. now owns 2,752,949 shares of the financial services provider’s stock valued at $553,618,000 after purchasing an additional 134,588 shares in the last quarter. Finally, FMR LLC lifted its holdings in MarketAxess by 36.7% in the 2nd quarter. FMR LLC now owns 491,713 shares of the financial services provider’s stock valued at $98,883,000 after purchasing an additional 131,911 shares in the last quarter. Institutional investors own 91.65% of the company’s stock.
MarketAxess (NASDAQ:MKTX) opened at $199.36 on Tuesday. MarketAxess has a 1 year low of $145.10 and a 1 year high of $211.06. The stock has a market cap of $7,276.54, a P/E ratio of 49.83 and a beta of 0.69.
MarketAxess announced that its board has initiated a share repurchase plan on Wednesday, October 25th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 8th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, November 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.66%. MarketAxess’s payout ratio is 33.93%.
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MarketAxess Holdings Inc operates an electronic trading platform that enables fixed-income market participants to trade corporate bonds and other types of fixed-income instruments using its trading technology. Institutional investor and broker-dealer firms are users of trading platform, accessing global liquidity in the United States corporate bonds, emerging markets and high-yield bonds, European bonds, the United States agency bonds, municipal bonds, credit default swaps and other fixed-income securities.
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